City Council approves redistribution of Envida’s energy assets

Guelph, Ont., June 28, 2017 – Guelph City Council has approved a series of recommendations brought forward through the Envida Asset Review. The review is in response to Council direction received on October 24, 2016 to transfer oversight and management of Envida to the City, with support from Guelph Hydro, who will report to Council.

“City staff, with support from Guelph Hydro, have spent the last nine months reviewing Envida’s assets to maximize shareholder value and create more direct oversight by the shareholder, City Council,” said the City’s chief administrative officer, Derrick Thomson. “We’ve had success with some revenue generating assets, and collectively we have to work through several issues with respect to Guelph’s district energy nodes.”

As a result of Council’s decision, the Eastview Landfill gas generators and the solar assets at 395 Southgate Drive will be transferred through sale from Envida to Guelph Hydro. Solar assets on City land and facilities will be transferred through sale from Envida to the City.